For teen drivers, one of the more important things that help determine auto insurance rates is where you live. Larger areas tend to have more expensive auto insurance rates, whereas areas with fewer weather claims and lower vehicle theft rates have the luxury of cheap car insurance rates.
The table below rates the most costly cities in Florida for 18 year olds to buy an auto insurance policy in. Jacksonville comes in at #20 having an annual price of $1,960 for car insurance, which is approximately $163 each month.
|Rank||City||Premium Per Year|
|6||West Palm Beach||$2,679|
|19||Port St. Lucie||$1,994|
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Rate information is estimated as the garaging address in Jacksonville can raise or lower rates considerably.
The vehicle model you are seeking coverage for is one of the primary factors when looking for the most affordable coverage for 18 year olds. Vehicles with limited top-end speed, excellent safety ratings, or a low likelihood of liability claims will cost substantially less to insure than higher performance models.
The data below illustrates auto insurance premiums for a handful of the most affordable automobiles to buy coverage for.
|Vehicle||Estimated Cost for Full Coverage|
|Honda CR-V LX 2WD||$3,913|
|Ford Escape XLT 4WD||$3,957|
|Honda Accord EX-L 4-Dr Sedan||$4,218|
|Dodge Grand Caravan CV||$4,382|
|Ford Explorer XLT AWD||$4,390|
|Toyota Tacoma Double Cab 4WD||$4,643|
|Nissan Altima 2.5 4-Dr Sedan||$4,652|
|Chevrolet Malibu LS||$4,643|
|Chevrolet Impala LT||$4,650|
|Toyota RAV4 Limited 4WD||$4,643|
|Jeep Wrangler Unlimited Sahara 2WD 4-Dr||$4,831|
|Honda Civic LX-S 4-Dr Sedan||$4,861|
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Data based on single male driver age 18, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Florida minimum liability limits. Discounts applied include claim-free, and safe-driver. Price estimates do not factor in specific Jacksonville, FL garaging location which can impact auto insurance rates significantly.
By looking at the data, you can infer that models like the Honda CR-V, Ford Escape, and Honda Accord are most likely going to be some of the less-costly vehicles to insure for teen drivers. Prices will tend to be higher because of the fact that there is more liability risk for 18 year olds, but in general those particular models will most likely have the best insurance prices that you are likely to find.
Comparing rates for reasonably-priced insurance is challenging, and figuring out which companies have the lowest-priced auto insurance rates for 18 year olds will take more quotes for comparison. Every auto insurer uses a different method to determine premium rates, so let’s rank the most affordable auto insurance companies in Florida.
It’s a good idea to be aware that Jacksonville, FL auto insurance rates are determined by lots of factors that will increase or decrease the cost of coverage. Events such as a birthday, moving across town, or getting a ticket for running a stop sign can trigger changes in premium that may make certain companies higher-priced than the competition.
Lowest Insurance Price Quotes for Teens
|Rank||Company||Cost Per Year|
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USAA may have some of the most affordable car insurance rates in Jacksonville at around $977 each year. Electric, Amica, Progressive, and Travelers are also some of the most economical Jacksonville, FL insurance companies.
In this example, if you buy coverage from Progressive and switched to Electric, you might realize an annual savings of in the vicinity of $81. Customers with Travelers may save as much as $176 a year, and Allied policyholders might reduce prices by as much as $273 a year.
It’s important to note that these policy rates are averaged across all drivers and vehicles and and are not figured with a vehicle location for 18 year olds. So the auto insurance company that can offer you the best price may not even be in the list above. That affirms the importance of why you need to get quotes using your own driver data and vehicle information.
How violations and accidents impact rates
The obvious way to snag the most affordable auto insurance rates for teen drivers is to be a safe driver and not have accidents or get tickets. The diagram below illustrates how traffic citations and at-fault collisions can impact yearly insurance costs for different ages of insureds. The information is based on a single male driver, comprehensive and collision coverage, $250 deductibles, and no discounts are factored in.
In the example above, the average cost of car insurance in Florida per year with a clean driving record and no accidents is $2,922. Get one speeding ticket and the average cost increases to $3,293, an increase of $372 each year. Now add in two accidents along with the one speeding ticket and the 12-month cost of auto insurance for 18 year olds increases to an average of $6,527. That’s an increase of $3,606, or $300 per month, just for not being a responsible driver!
Does it make sense to buy full coverage?
Paying less for auto insurance is the goal of most drivers, and an effective way to find cheap insurance for 18 year olds is to buy only liability coverage. The diagram below shows the difference between yearly insurance costs with full physical damage coverage compared to only buying liability only. The rate quotes are based on no claims or violations, $100 deductibles, marital status is single, and no policy discounts are applied.
Averaged for all ages 20 through 70, comp and collision coverage costs an extra $3,253 per year more than carrying just liability coverage. Many of you may wonder if you should buy full coverage at all. There is no exact formula that works best for making the decision to drop comprehensive and collision coverage on your policy, but there is a general guideline. If the yearly cost of full coverage is more than about 10% of the settlement you would receive from your company, the it may be a good time to stop paying for full coverage.
There are a few situations where removing full coverage is not a good idea. If you have an outstanding loan on your vehicle, you are required to maintain full coverage to protect the lienholder’s interest. Also, if your savings is not enough to buy a different vehicle in the even your car is totaled, you should not drop full coverage.
Why you are probably overpaying for car insurance
Jacksonville, FL auto insurance rates are impacted by many factors that control the price of your policy. Simply improving your credit, having a teen driver, or getting a few speeding tickets can trigger changes in premium that can now make some companies more affordable than the competition. Additionally, car insurance companies modify rates as often as every three months as an adjustment for underwriting gains or losses. Heavy losses can result in increased policy costs, while lower claim levels may produce lower-cost Jacksonville car insurance rates.
To illustrate this point, the graph below shows the companies that have the cheapest car insurance in Jacksonville, FL for a 35-year-old male driver with no prior accidents, a clean driving record, and a good credit rating. If we estimate rates based on his current risk profile, USAA might offer the best car insurance rates in Jacksonville at $1,129 annually. This is $1,319 less than the average rate paid by Florida drivers of $2,448. Amica, Electric, Progressive, and Travelers are the remaining most affordable Jacksonville, FL auto insurance companies.
In this next rate comparison, we will give the driver from the first rate comparison a couple of claims, a lower credit score, and a stop sign violation. Since each auto insurer has a proprietary method to establish rates, getting updated rate quotes most likely will result in a significantly different list of the cheapest companies as shown below.
USAA now has the best price in Jacksonville, FL with Allied, State Farm, Auto-Owners, and Esurance now being in the top five. This example demonstrates why Florida drivers need to shop around with many companies when trying to find the cheapest auto insurance quotes for 18 year olds. Auto insurance prices can be altered by many things and can change without notice, so the cheapest rate when you last compared rates may now be one of the more expensive options.